Companies That Pay For Invention Ideas

Are you an innovative thinker with groundbreaking invention ideas? Good news! There are companies out there ready to pay for your brilliant concepts. These companies have dedicated platforms where inventors can submit their ideas for review, and if selected, they offer various forms of compensation.

From household names like Nokia to specialized companies like New Soda and FastCap, the opportunities are endless. Let’s dive into the world of invention idea payment companies and explore the potential rewards for your creative genius.

Key Takeaways:

• There are several companies that pay for invention ideas, providing inventors with a chance to monetize their creativity.
• Companies like New Soda, Invention City, Henkel, FastCap, Idea Buyer, and Nokia are known for compensating inventors for their innovative concepts.
• Compensation methods vary, but inventors can earn royalties, signing bonuses, or receive financial rewards for transferring intellectual property rights.
• Some companies, like New Soda and FastCap, also cover the development costs of turning your idea into a marketable product.
• Before submitting your idea, it’s essential to research each company’s submission process, payment terms, and any confidentiality agreements that may be required.

New Soda – Turning ideas into products

Are you an aspiring inventor with a brilliant idea for a new kitchen gadget or product? Look no further than New Soda, a company that specializes in turning invention ideas into reality. With a commitment to innovation and creativity, New Soda offers inventors the opportunity to showcase their concepts and get paid for their invention ideas.

At New Soda, every submission receives thorough consideration. The company evaluates each idea for technical feasibility and profitability, ensuring that only the most promising concepts move forward. If your concept is selected, New Soda will take care of the investment, development, and production process, turning your idea into a tangible product.

As part of their comprehensive service, New Soda will build a prototype of your invention, which will be displayed at trade shows, providing valuable exposure to potential buyers and partners. The final product will be distributed through New Soda’s network of sales agents, giving your invention a strong presence in the market.

One of the most enticing aspects of partnering with New Soda is the opportunity to earn royalties. For each unit sold, inventors receive a percentage of the profits, creating a sustainable and rewarding revenue stream from their ideas.

New Soda’s commitment to helping inventors succeed sets them apart from other invention submission companies. By offering a comprehensive solution that covers everything from development to distribution, New Soda provides inventors with a chance to see their ideas come to life and thrive in the market.

“New Soda’s innovative approach to turning ideas into successful products has revolutionized the world of inventions. Their dedication to supporting inventors and providing them with fair compensation is truly commendable.”

Invention City – Licensing deals for inventors

When it comes to companies that compensate for invention concepts, Invention City is a notable player in the field. They provide inventors with an opportunity to turn their ideas into tangible licensing deals.

Invention City accepts ideas or concept drawings for any product category, allowing inventors to showcase their creativity and innovation. They offer both free and paid submission options to accommodate inventors with different needs and budgets. While the free option doesn’t guarantee input, paid submissions go through a Brutally Honest Review process, providing valuable feedback to improve the concept.

While Invention City doesn’t involve itself in the manufacturing process, they offer lucrative licensing deals for selected ideas. Inventors have the potential to earn royalties of up to 5% on each unit sold, providing a consistent revenue stream over time. The licensing opportunities presented by Invention City allow inventors to focus on their strengths while benefiting from the expertise and resources of established companies.

Success Rate and Selectivity of Invention City

With Invention City, every submission goes through a rigorous selection process. While they receive numerous ideas, only 1% of the total submissions are offered licensing deals. This selective approach ensures that only the most promising and commercially viable concepts are chosen. With a 10% success rate, inventors who secure a licensing deal with Invention City have a solid chance of seeing their ideas materialize.

Invention City Licensing Deal Example

To better understand the potential benefits of licensing deals with Invention City, let’s take a look at an example:

Imagine you have an innovative kitchen gadget idea that you believe has market potential. You submit your concept drawing or idea to Invention City, opting for the paid submission option to receive comprehensive feedback.

After going through the Brutally Honest Review process, your idea is selected for a licensing deal. Invention City handles the licensing process, allowing you to focus on your creative endeavors.

Upon successful licensing, Invention City takes care of developing and manufacturing the product. They leverage their network of sales agents to promote and distribute the final product, reaching a wide audience.

For every kitchen gadget unit sold, you receive royalties of up to 5%, translating into a consistent income stream as the product gains traction in the market.

By partnering with Invention City, inventors have the opportunity to see their ideas come to life without the challenges of manufacturing, marketing, and distribution. With their expertise in licensing and commercialization, Invention City acts as a catalyst for inventors to monetize their concepts.

Henkel – Partnership program for inventors

Henkel, a renowned company specializing in adhesive technologies, beauty care, and laundry & home care products, offers a partnership program for inventors. This program welcomes not only professional inventors but also everyday innovators, students, and customers with creative ideas.

Patent holders have the opportunity to submit their ideas for all product categories, while those without patents can focus on adhesive technology and home care innovation. Henkel’s dedication to fostering innovation and collaboration is evident through this inclusive submission process.

While the compensation rate is not explicitly stated, Henkel promises inventors a fair share of the value of their innovation. This ensures that inventors can potentially earn significant rewards for their groundbreaking ideas.

“At Henkel, we are committed to nurturing inventive minds and sharing the rewards of innovation. Through our partnership program, we provide inventors with a platform to transform their ideas into tangible products and experiences. Join us on this exciting journey of creativity and exploration.”

FastCap – Royalties for woodworking innovation

FastCap, owned by Paul Akers, is a renowned company that specializes in hardware and woodworking tools. They are dedicated to seeking out innovative ideas from contractors and cabinetmakers, offering a platform for inventors to showcase their creativity. With FastCap, woodworking enthusiasts have the opportunity to get paid for their invention ideas.

FastCap believes in fair compensation for inventors and offers royalties of 5% for each idea that is successfully developed and sold. This means that inventors can earn a percentage of the sales revenue generated by their inventions. FastCap covers all the development costs, ensuring that inventors don’t have to bear any financial burden. What’s more, they provide monthly payments to inventors, offering a steady source of income from their ideas.

One notable aspect of FastCap’s submission process is that they do not require inventors to have a patent before submitting their ideas. This opens up opportunities for inventors who are in the early stages of their innovation journey. However, FastCap also offers assistance in obtaining a patent if inventors see it as necessary.

With their commitment to woodworking innovation and support for inventors, FastCap is an excellent choice for individuals looking to turn their woodworking ideas into a rewarding venture.

FastCap offers inventors an opportunity to monetize their woodworking innovation while providing the necessary support and resources to bring ideas to life. Whether you’re a contractor or a passionate cabinetmaker, FastCap can be your gateway to success in the woodworking industry.

Idea Buyer – Helping inventors materialize their ideas

Idea Buyer is a development company that specializes in helping inventors bring their ideas to life. Unlike other companies, Idea Buyer does not manufacture or sell products themselves. Instead, they collaborate with established marketplace partners such as Amazon, Ace Hardware, and Walmart to bring innovative ideas to the market. This unique approach allows inventors to benefit from the extensive reach and resources of these major retailers.

Inventors who have a promising idea can easily submit their concept to Idea Buyer through an online form. Idea Buyer evaluates each submission carefully and selects ideas with high market potential. If your idea is chosen, Idea Buyer will reach out to you and offer a joint venture. Through this partnership, Idea Buyer provides guidance and support throughout the entire prototyping and manufacturing process, ensuring that your idea becomes a tangible, marketable product.

With Idea Buyer’s expertise, you can navigate the complex landscape of product development more easily. They have a team of professionals who understand the intricacies of design, manufacturing, and marketing. Their goal is to help you maximize the potential of your idea and turn it into a successful invention.

At Idea Buyer, we believe that every great idea deserves a chance to thrive. We are passionate about helping inventors bring their ideas to life, and our partnership with major marketplace players allows us to offer unprecedented opportunities for success. Join us on this exciting journey and let’s make your invention a reality!

Advantages of partnering with Idea Buyer:

• Collaboration with established marketplace partners like Amazon, Ace Hardware, and Walmart
• Expert guidance and support throughout the prototyping and manufacturing process
• Access to a team of professionals with experience in design, manufacturing, and marketing
• Potential for widespread distribution and exposure through the partner network

Inventor success stories with Idea Buyer:3>

Nokia – Submitting ideas for inventions

Are you an aspiring inventor with a brilliant idea? Look no further than Nokia, a renowned company that welcomes inventors to submit their groundbreaking concepts through their website. With Nokia, your innovative ideas have the potential to become the next big thing.

When submitting your invention idea to Nokia, you have two options: the general submission route and the privileged submission route. The general submission route allows for the easy sharing of your idea, but does not guarantee confidentiality. On the other hand, the privileged submission route involves a confidentiality agreement, ensuring that your idea remains protected.

One of the key aspects of submitting your invention idea to Nokia is the opportunity for financial reward. When transferring the Intellectual Property (IP) rights of your idea to Nokia, you can choose between different financial compensation levels. Depending on the strength and value of your idea, you can receive anywhere from €10,000 to €75,000 for granting Nokia the rights to your invention. It’s a fantastic opportunity to be rewarded for your creativity and vision.

In addition, Nokia understands the importance of protecting your rights as an inventor. For those who wish to retain the rights to their invention under their own name, Nokia covers the cost of patenting. This ensures that inventors can safeguard their intellectual property and explore other avenues for their invention beyond Nokia.

Submitting your invention idea to Nokia opens up a world of possibilities. With their commitment to innovation and forward-thinking approach, Nokia provides inventors with a platform to showcase their ideas and potentially bring them to life.

So, if you have a groundbreaking invention idea and are looking for a reputable company to submit it to, consider Nokia. With their extensive experience in the technology industry, Nokia is the ideal partner to help turn your invention idea into a reality.

Conclusion

There are numerous companies that pay for invention ideas, providing inventors with the opportunity to turn their creativity into financial compensation. From companies like New Soda and Invention City, which offer licensing deals and royalties, to Henkel and FastCap, which provide partnership programs with royalties and monthly payments, there are various avenues for inventors to explore. Idea Buyer and Nokia also offer opportunities for inventors to bring their ideas to market and secure compensation. It is important for inventors to carefully research each company’s submission process and payment terms before submitting their ideas.